LexisNexis® Legal Newsroom
Are you at risk of losing a client? 10 diagnostic questions

As my colleagues and I interview the clients of law firms, we hear a consistent set of complaints about the service that they receive from law firms. Here is a short checklist to help law firms consider whether they have the basic management structures and systems in place to allow them to keep...

Looking for a best friend

"Best friend" strategies really do work for law firms, but they require thorough research, a solid business case, and realistic expectations. Going global has become a two-way journey. Since the late 1990s, firms in mature legal markets in Europe and North America have looked...

Building consensus in compensation: the Addleshaws case study

Another well-intentioned and innovative reform to a law firm's partner compensation system has been aborted. The senior management team at one of the United Kingdom's better-managed law firms, Addleshaw Goddard , has been forced, by what appears to be unexpectedly strong opposition from...

Business plans for gigantic canoes

For several months now, I and some of my colleagues in the Public and Professional Interest Division of the International Bar Association have been reviewing the business plans of the PPID committees and other entities. These groups range from very small task forces and working groups of fewer than...

After the honeymoon

What happens when things don't work out after a merger as well as the partners had hoped? There are almost always some rough spots after any merger of two businesses. However, these can be become life-threatening for recently merged law firms, which, like most law firms, typically have lower...

Life after managing partner

The Lawyer reported this morning that Mark Walker, until recently the managing partner of Cleary Gottlieb in New York, has moved to Paris and into the world of finance as a senior advisor to the global sovereign advisory group at Lazard. One of the subtle flaws in many law firm governance schemes...

What Does “Cost” Mean?

The always interesting 3 Geeks blog had a post the other morning about the procurement function in legal in general and reverse auctions in particular . The bigger question is this: Should clients buy legal services based on cost? 1 I don't want to argue the question itself here. (The...

A textbook example of international expansion

Allen & Overy's opening of its new office in Washington, D.C., announced today at legalweek.com demonstrates the smart way to plan and execute an international expansion strategy: Go only where you need to go, but go there with the best. The London-based global firm will build its Washington...